PGNiG plans Warsaw flotation 'by mid-year'

Share plans: PGNiG looks to coming months for upstream flotation

PGNiG

related stories

Bill Lehane ,

News Wires

 05 February 2013 12:29 GMT

Poland's gas monopoly PGNiG has reportedly earmarked the first half of this year for the planned flotation of its exploration business.

PGNiG chief executive Grazyna Piotrowska-Oliwa told reporters in the Polish capital that the Warsaw listing would happen by the middle of the year.

"I hope the market conditions will be good enough for a share issue," Grazyna Piotrowska-Oliwa said, Reuters reported.

It is thought that raising capital for upstream expenditure, previously estimated at a $390 million need, is a key driver behind the market move, with the state player aiming to hold on to at least 50% of the listed company.

During the summer, the Polish company merged its five exploration and servicing…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index